BP set to report lower profits and revenue as the oil price weakens

Yorkshire Post

BP is expected to announce slowing profits and revenues for the first quarter of 2024, as it wrestles with lower oil prices and weaker refining margins than this time last year.

Transcript

00:00Hello, my name is Greg Wright and I'm the Deputy Business Editor of the Yorkshire Post.

00:06Here are your business headlines for this morning.

00:09BP is expected to announce slowing profits and revenues for the first quarter of 2024,

00:15as it faces lower oil prices and weaker refining margins.

00:19The oil supermajor will give its latest results on May 7th,

00:24with profit expected to come in at £5.07 billion,

00:29which is lower than the £6.79 billion at the same point in 2023.

00:35Unlike its US counterparts, BP has pledged to hit net zero emissions by 2050,

00:41in line with the government's energy transition plan.

00:45There's an update expected this week from BP,

00:48which will be of great interest to investors in the City of London.

00:52My name is Greg Wright and I'm the Deputy Business Editor of the Yorkshire Post.

Category

Transcript

Be the first to comment

Recommended